What is the percentage of income received by the lower two quintiles on line X?
40
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The infant industry argument is based on the idea of
A) learning-by-doing. B) absolute productivity advantage. C) global monopoly. D) countervailing duties.
In macroeconomics, the long run is determined by:
A. how long it takes for prices of inputs to adjust through the whole economy. B. the longest contract length of a business. C. how long it takes for output decisions to adjust to changes in economic conditions. D. how long it takes for firms to vary all input quantities.
How do quasi-public goods differ from pure public goods? Give examples of both types. Explain the rationale as to why quasi-public goods are often provided by government rather than private businesses
Please provide the best answer for the statement.
If the price of good A increases from $15 to $20 per unit and quantity demanded falls from 150 to 100 units, then by using the method of average values, we can calculate the absolute price elasticity of demand to be
A) 2.6. B) 0.75. C) 1.4. D) 2.4.